Updated May 27, 2026 – 4.23pm, first published at 4.29amKey Posts5 mins ago — 4.20PMASX closes higher as CPI data to keep RBA sidelined19 mins ago — 4.06PMGlobal stocks rally powers on as chip shares surge57 mins ago — 3.27PMNufarm rallies 13pc as it reaffirms guidance on solid trading1 hr ago — 3.12PMAustralianSuper appoints Manuell as next CIO1 hr ago — 2.47PMCPI cools, but inflation still has fuel in the tank: VanEck1 hr ago — 2.38PMChina’s industrials profits soar at fastest in over two yearsGo to latestPinned post – 4.20PMASX closes higher as CPI data to keep RBA sidelinedMatt BellThe sharemarket advanced on Wednesday after an unexpected slowdown in headline April inflation data all but ensured the Reserve Bank of Australia will be sidelined on interest rates at its next board meeting in June.The S&P/ASX 200 Index was up 59.90 points, or 0.7 per cent, to 8717.70, after earlier trading down to 8625.8. Ten of the 11 benchmark sectors were higher.Inflation slowed to 4.2 per cent in April, below the 4.4 per cent consensus, driven by a temporary reduction in the fuel excise. The RBA’s preferred gauge – the trimmed mean – rose to 3.4 per cent. The Australian dollar slid 0.1 per cent to US71.62¢.Money markets halved expectations of an interest rate increase at the RBA’s June meeting to 6 per cent and pared back the outlook for monetary policy with only 0.20 percentage points priced in for the rest of the year compared to 0.30 percentage points.“Inflation was probably a bit better than markets had fears, which has seen markets slightly amend interest rate expectations, and marrying into that is the tax changes proposed in the federal budget with could weaken demand,” UBS Global Markets executive director Rob Taubman said.“There is undoubtedly a lot of caution within Australian equity investors against uncertain backdrop of profit adjustments, the federal budget, inflation and interest rates, this is resulting in lower volumes.”Interest rate sensitive tech stocks paced gains, amid AI-driven gains by offshore peers. Data centre operator NextDC rose 3.8 per cent to $15.20 and Megaport by 8.6 per cent to $14.98.Heavyweight materials, meanwhile, climbed as aluminium hit a four-year high and copper prices remained elevated. BHP advanced 1.5 per cent to $61.28 and South32 by 3.5 per cent at $4.79.Banks were mixed as Commonwealth Bank added 0.3 per cent to $164.81, ANZ lost 0.3 per cent to $35.57, and National Australia Bank by 0.6 per cent to $37.75.Westpac dropped 0.6 per cent to $36.39 after the federal court ordered it to pay a $26 million penalty for financial hardship failures, following legal action launched by the Australian Securities and Investments Commission.The sharemarket operator, ASX Ltd, plunged to 9.7 per cent to a 10-year low of $46.06, extending Tuesday’s record 13.3 per cent sell-off. Analysts downgraded the group after it flagged a sharp increase in its cost base for the coming financial year.Stocks in focusIn company news, Endeavour Group slid 4.9 per cent to $2.93 following plans to sell most of its vineyard and winery assets and target $300 million in cost savings as part of a turnaround plan.Web Travel gained 2.1 per cent to $2.43 as EBITDA for the full-year came in 3 per cent of adjusted forecasts despite geopolitical disruption.Southern Cross Media advanced 7.8 per cent to 62.5¢ after billionaire Gina Rinehart emerged as a major shareholder, after lending tens of millions of dollars to Bruce McWilliam to finance his 9 per cent stake in the group.Nufarm rallied 13.7 per cent to $2.91 after it delivered a half-year result broadly in line with expectations with stronger momentum in trading and a reaffirmed full-year outlook.1 / 6Fetching latest articles